Coca-Cola HBC targets net-zero emission with €250m investment

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Chief Executive Officer, Coca-Cola HBC, Zoran Bogdanovic

The Coca-Cola Hellenic Bottling Company, the parent company of the Nigerian Bottling Company Limited, has announced its commitment to achieving net-zero emissions across its entire value chain by 2040.

According to a statement by the firm, the company aims to achieve this target through the adoption of several initiatives, including the investment of €250m in emissions reduction initiatives by 2025.

The statement quoted the Chief Executive Officer, Coca-Cola HBC, Zoran Bogdanovic, as saying, “This commitment is the ultimate destination of a journey that we started many years ago. It is fully aligned with our philosophy to support the socio-economic development of our communities and to make a more positive environmental impact. Both are integral to our future growth.

“Although we don’t yet have all the answers, our plan, track record and partnership approach give us confidence that we will deliver.”

The Managing Director, NBC, Mathieu Seguin, was quoted to have said, “Climate change is a global emergency that requires deliberate, proactive and coordinated efforts to be mitigated.

“We have seen its impact on agriculture and food production, rising sea levels, declining biodiversity, and the threat to coastal communities. We are passionate about leading efforts that strengthen the sustainability of the environment while supporting the socio-economic development of our communities. These priorities are integral to our future growth and central to our values as an organisation.”

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Also, speaking on behalf of one of the company’s partners, the Vice-President, Sustainability, Tetra Pak, Mr Markus Pfanner, said, “As Tetra Pak also has a net-zero target and SBTi approved 1.5 aligned 2030 targets, we look forward to working with Coca-Cola HBC to reduce GHG emissions and together achieve our joint aims.”

The company plans to provide energy-efficient and eco-friendly coolers to customers, reduce emissions from agricultural ingredients and implement a “Green Fleet” programme to switch to low and no-carbon alternatives.

Through an existing, approved science-based target, the CCHBC is aiming at a 25 per cent reduction in its value chain emissions by 2030 and a further 50 per cent reduction the following decade.